Midas acquires 181 SpeeDee Autos

ITASCA -- Midas Inc. Tuesday said it acquired the assets of G.C. & K.B. Investments Inc., and its affiliated entities that franchise or sub-franchise 181 SpeeDee quick-lube and automotive maintenance shops in the U.S. and Mexico. SpeeDee, based in New Orleans, had sales of about $78 million in 2007. Midas said it paid about $20.8 million through its existing credit facility, and suspended its share repurchase program.